iiNet Limited (IIN)

Patersons has placed
iiNet Limited
on its high conviction stock list saying the telecommunication services provider made recent acquisitions that could markedly increase its market share in DSL broadband.

The broker said the company was also improving its scale and capabilities across a broad range of telecommunications services.

It was well placed to capitalise on the NBN, it said.

The company’s net profit after tax was up 11 per cent to $37 million in 2012. Earnings per share were 19.8¢ for that year.